Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1887-04-01
The letter OF the Foreign BOND.
holders.

H~
Mr.. James p Cooper, financial agent of ~
foreign bondhciio:s, summary Of vb:-
was given in yesterdays GAZETTE
COUNCIL OF FOREIGN BoNDHoIDyps
II MORGATE STREET
LONDON. March 10Th. ISs-
n, His ErceUency GEN. FIt-bHqi [e, ~
nor of the State Of Virginia, Richmond r.
Z s. 4:
Slr-In view OF the extra session ~ II
Virginia Legislature, which it is under.,a,--i;
has beer summoned for the purpose If Wv, w..
sitlering, among other things. the pre,...
condition Of the State debt, the C5unc1
the Corporation of Foreign Bondboij.
and the Committee of English Virgis.
Bondholders, acting in conjunction with ia
council, beg leave TO invite your atten,-,
to their letter to your EXceleucy dated ~
October, 1886, handing you copies Of n.
resolutions passed at a public meetiog ~
the Virginia bondho!iers, held in This ei' "
on the 24lh Of September last, wherein t5.'
expressed their Willingness to NEE, ~
State in fair and liberal spirit, and Ia -.
cept compromise of their demands on m,
State. based on the ability Of the state =,
discharge It's Obligations without raisipgtb.
present rate Of taxation.
In order to render more effective any q,
ton which the committee may take sr5
with the object OF oringin tee Gnndhod-,:
under one representation Should the can.
summation they earnestly desire be au.yei
at). the committee have lately called N
Virginia bondholders to deposit their band.
on trust with the Corporation Of Forsjo-
Bondholders. Tho following is an exlrs@
from the Conditions and Objects Of Depo.,
of Bonds" set forth on the certificates oid..
post
"The object Of the deposit Ct the bond,
and coupons is 10 invest, aud the pa,y
lodging the same as holder thereof therein
invests the Corporation of Foreign Bond.
holders with the following powers, exercsl.
BILE in concurrence with the Committee Of
Virginia State Bondholders:
ta) ITO act as the representatives Of the
holders for the time being, collectively and
individually, of all bonds and coupons de.
posted for all purposes, and with all the
powers which such holders themselves have
or can exercise in relation to their rights Z;
such holders.
(J.) "To negotiate and when ratified BIZ
resolution of general meeting ofcertiiCsl.
holders) to conclude arrangements Whit.
State of Virginia or others in relation tott.
said bonds and coupons on any terms, ati
to carry the same into effect By presentig.
the same bonds and coupons 10 the pIott,
authority, and exchanging them for oits
securities or otherwise and to generallysa
10 all things as they may think eXpedielli.
the interests or on behalfofthe bondhoIiel:
(c.) ITO delegate any Of such powers 10
any person or persons"
The Corporation OF Foreign Bondho.dsu
ia public body (not private company O.
undertaking. constituted by special char
ter of the Board OF Trade for public pui
poses and especially to represent and pro-
tect the interests of foreign boudholder.
and it is precuded by its charter from d.
viding any profits amongst its members
The gentlemen constituting tho Virginia
committee, acting in conjunction with the
Corporation Of Foreign Bondholders d;
claim any feelings of hostility towards TIE
State, and desire only to secure for their
constituents what they conceive to be ares.
sonable recognition OF their rights, and to
arrange such matters as are in dispute insl
amicable manner and on basis which shsI
be- satisfactory to both parties.
The Corporation of Foreign BOndhoden
have effected arrangements concerning the
public debts of the following States who:e
total Indebtedness amounted TO 1913 l4j'
600 viz: Spain, Turkey, Egypt, Mexico
Venezuela Costa Rica, Paraguay, J7ugusg
Greece, Bolivia, Colombia, etc.
The Committee of Virginia Boadhodm
Al Ia
arrived at, and that any arrangement which
commends itself to them will be cheeriuI.g
accepted by the bondbolders at large. Ihs
would, however, remind your EXceIleaq
that the longer settlement is deferred ID:
more difficult it will no to secure the uual.
nous support of the boEdnolders, whose
claims naturally increase as limo goes o.
and rs the enforcement of their rights
placed on lrmer footing by the successive
decisions of the Federal courts of tho jn.el
States.
The committee would remind your Exec.
lency that the bondholders were not GRANTED
an opportunity Of presenting their caimia'
the time of the passage Of the Riddlebergd
act, and that they cannot he expected 70
acquiesce in settlement in regard to whc'
they have not been consulted. They as
for compromise by consent, not by coercoa'
The committee will be prepared at any
time, if required, to send out duly qpaI.lei
representatives, not necessarily bondholde''
to Virginia, to negotiate settlement, or
they would welcome duly authorised COM
mission which may be sent to London By
the State with the obj ect of arriving a; alp
agreement with themselves.
When the desired end is accomplished
the committee will be ready to withdraS
their agents and representatives in Virginia
and will Loyalty cooperate with the Staten
obtaining the acceptance by all the credit
ors of such terms as may be agreed upon
l have the honor to he, sir, your mos
obedlent seryant
f. PLEYDELL BouyERlE
Chairman of the Council of Foreign Bold
holders and Chairman of Inc COMMITTEE
of nj Do,IhoIIars